![]() ![]() “MetaFi will allow for a wide range of blockchain functionality to merge in one meta ecosystem, and it will be interoperable thanks to defined metadata standards used across various platforms and blockchains. The rebranding is not a simple name change, but a real evolution towards MetaFi, a synthesis between Metadata (not metaverse) and DeFi, on which Binance clearly wants to focus.īinance explains that MetaFi encompasses concepts such as Metaverse, DeFi, GameFi, SocialFi, Web3 and NFTs. The BNB Chain is intended to remain open and decentralized and will progress with the support of the community. improved scaling solution and set of block validators.BNB Chain will bring new features such as: The name change also points to new developments. BNB Smart Chain (BSC), formerly known as Binance Smart Chain, compatible with EVM and multi-chain hubs.BNB Beacon Chain and BNB Chain Governance, previously known as the Binance Chain.The BNB Chain will be composed as follows: It will remain the blockchain’s governance token, which is necessary to execute transactions. Binance’s token also changes its name and only the term BNB remains and no longer Binance Coin. For example, it allows users to trustlesstly exchange the token through Pancakeswap’s pair exchange.īSC native tokens require their own smart contract.As explained by Binance itself, BNB stands for Build and Build. The SMAC Token is benefiting from the flexibility of the Binance Smart Chain to integrate the token into different DeFi applications of the BSC ecosystem. ![]() In fact, sending ten or even a hundred times that amount still shouldn’t cost more than a few cents. With an average gas price of 20 gwei, sending 10 BEP-20 tokens worth about $300 should cost roughly $0.01.BSC also offers seamless integration with Binance Chain (BC), even though BSC is not a layer 2 blockchain.Through the Ethereum Virtual Machine (EVM), BSC is Ethereum-compatible, supporting Ethereum based DApps, tools and DeFi products, like Metamask.Withdraw from your Binance account, by selecting Binance Smart Chain (BEP-20) when withdrawing funds to your external wallet.Step 2: Move funds to a BSC compatible wallet, two options: You can get it as a browser extension for Chrome, Firefox, and Brave. Binance Chain Wallet is another option that you have for certain apps on BSC.Trust Wallet is one of the easiest mobile wallets to use, so if you’d like to useīSC from your pocket, it’s among the best options.You canįollow this tutorial to connect Metamask to BSC: Metamask is the most popular Ethereum wallet, also compatible with BSC.Step 1: Connect a wallet, various options: This allows access to the rich universe ofĮthereum tools and DApps while avoiding Ethereum’s current high transaction fees - gas Through the Ethereum Virtual Machine (EVM). ![]() As a nativeīEP-20 token on BSC, it leverages smart contract functionalities and compatibility Represent anything from shares in a business to dollars stored in a bank vault.Īs of today, the SMAC BEP-20 token is available on the Binance Smart Chain, enablingīinance users to make use of the token deposit and withdrawal functionality. BEP-20 was conceived with the goal of providing aįlexible format for developers to launch a range of different tokens. The BSC Network is powered by BNB, Binance ecosystem’s native token and runs on aīEP-20 is a token standard on Binance Smart Chain that extends ERC-20 capabilities - the The design goal of BSC was to achieve high transaction capacity, while introducing smartĬontracts into the ecosystem, enabling users to create DApps and other DeFi products. Unlike Binance Chain, BSC boasts smartĬontract functionality and compatibility with the rich Ethereum ecosystem through the Ethereum Virtual Machine (EVM). Runs in parallel to the Binance Chain (BC). To realise the full benefits of the fast-growing Binance SmartĮcosystem SmartChem will make the SMAC token available on Binance Smart Chain as aīinance Smart Chain (BSC) is a blockchain developed by the Binance Chain community that In November 2021, we announced SMAC’s integration into the Binance Smart ChainĮcosystem, opening the path to bring SMAC’s open-source oracles to the efficiency-gearedīinance Smart Chain.
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